Stock exchange in Frankfurt: Dax gives way

After the cautious start to the week, the Dax suffered further moderate losses on Tuesday.

Stock exchange in Frankfurt: Dax gives way

After the cautious start to the week, the Dax suffered further moderate losses on Tuesday. Experts referred to thin trading, as there was no trading on the stock exchanges there because of the US national holiday. That's why the gates on Wall Street had closed earlier than usual the day before. There was also no price-moving economic news on Tuesday.

At the end of trading, the leading German index was down 0.26 percent at 16,039.17 points. The MDax for medium-sized companies fared better, ultimately gaining 0.47 percent to 27,822.07 points.

Trading was also sluggish on the European stock markets. The leading eurozone index, the leading eurozone index, the EuroStoxx 50, closed 0.16 percent lower at 4390.99 points. The national indices in Paris and London also fell moderately.

There was hardly any price-moving company news in Germany. The possible merger of the activities of Adnoc and OMV could do little to harm Covestro's takeover fantasies. Also because the state oil company from Abu Dhabi Adnoc is considering a new bid for Covestro after a rejected first offer, according to circles, the shares of the plastics group lost just under two percent in the end.

Studies and profit-taking on well-performing titles caused clearer price swings. The brake specialist Knorr- Bremse was at the bottom of the MDax with a minus of four percent to around 65 euros. The investment bank Exane BNP Paribas was the trigger here, as it resumed monitoring the shares with "Neutral" and sees no upside potential with a price target of 66 euros.

Shares in the commercial vehicle supplier SAF-Holland also paid tribute to the strong share price development since the beginning of the year. They lost almost 3.8 percent as the taillight in the SDax small-cap index.

Real estate stocks, on the other hand, led the winners' lists in the indices. Among other things, a positive assessment by the private bank Berenberg, which fueled the hope of LEG shareholders that dividend payments would be resumed, gave the MDax leader a price increase of 4.3 percent. TAG Immobilien gained 3.3 percent. As the best Dax value, Vonovia rose by 4.7 percent. Aroundtown and Grand City Properties were among the biggest winners in the SDax.

Adidas shares climbed by 1.1 percent to 178.64 euros after Berenberg had also made positive comments here. Analyst Graham Renwick set the highest price target on the market for the Herzogenaurach shares at 220 euros. He sees the sporting goods manufacturer at the beginning of an "exciting multi-year turnaround story". In the best case, the expert even thinks a price gain of 70 percent is possible - that would be an increase to around 300 euros.

Wacker Chemie continued its good run in the MDax. After a buy recommendation from HSBC, the papers had risen to their highest level since the end of May in the morning, and at the end of trading there was still a price increase of 1.6 percent. The British bank predicts a bright future for solar energy worldwide, from which the group should also benefit. In this wake, SMA Solar grew by 1.4 percent.

The euro showed little movement and most recently cost $1.0897. The European Central Bank (ECB) had previously set the reference rate at $1.0895.

On the bond market, the current yield rose to 2.55 percent from 2.49 percent the previous day. The Rex pension index fell by 0.32 percent to 124.02 points. The Bund future lost 0.19 percent to 133.04 points.